What happened: As previously covered, X has spent considerable effort securing multiple money transmitter licenses in the US to fulfil Elon Musk's dream of turning the social media company into a super app. X’s CEO Linda Yaccarino shared that X Money, the name of X’s payment product, will be launched in 2025. While this is later than Elon Musk’s previous timeline of 2024, it is confirming that a launch is planned for later this year (Social Media Today). Additionally, in the source code of a new version of X, it can be seen that X money is likely being launched before securing licences in all US states (error message for users that live in states where X does not have a license yet).
My comment: After many years of being a very active Twitter user, I deleted my X account last year after Elon Musk publicly endorsed a German far-right party. While this was the main trigger, I wasn’t using the app anymore, as most of my notifications were triggered by apparent bots. That being said, X’s commitment and investment in the launch of X Money are impressive, especially despite the layoffs. You can probably see that writing about X’s fintech product is hard for me, ignoring everything else around it. However, I will take a closer look at their fintech product once it is announced, but I wonder if enough real users are left on the platform for a payment product to succeed.
